“In 2009-10, our textiles exports are estimated at $20 billion due to the global economic crisis. We expect exports to be $24 billion for the current fiscal,” an official in the Textile Ministry said .
“The textile exports are set to move in sync with the country’s overall exports, which have been growing for six months since November, 2009 .
“Federation of Indian Export Organisations (FIEO) President A Sakthivel said textile exports can reach $24 billion if the government extends a helping hand to the industry, which is facing problems .
“There has been a steep rise in cotton prices, which shot up by over 20 per cent in the past six months, resulting in higher fabric costs .
“The target can be met provided the government continues some regulations on cotton and cotton yarn exports,” he said .
“The government has brought cotton exports under the restricted category, with overseas shipments subject to licensing .
“US and European markets, which account for 30-35 per cent of textile exports from India, have seen revival of demand across different sectors, exporters said .
“The exporters are also exploring new markets like Africa, Latin America and Oceania .
“Orders are improving. Demand for fabric has also gone up,” said Confederation of Indian Textile Industry (CITI) Secretary General D K Nair. . .
Date:5/27/2010
Source:Al Ahram Newspaper